16 May 2016
PENNY\'S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Citation
- PENNY\'S BAY INVESTMENT CO LTD v. DIRECTOR OF LANDS
- Court
- Court of Appeal
- Case number
- CACV119/2015
The Court held that the CFA measure of compensation stands but requires that market expectations and their uncertainty be assessed by reference to public information and reality and applied consistently to both the value with marine rights and value without marine rights; the Tribunal erred in treating the after valuation as carrying a different (effectively unitary) certainty and in construing 'godown' to include open storage for mid‑stream operations; the Tribunal also failed to account for the three‑month sub‑tenancy and accepted an agreed correction to demolition costs, so parts of the Tr…